Radar Stocks: Facebook and RIM Bounce Higher, Apple Apologizes
Facebook (NASDAQ:FB) shares bounced 6.6 percent on Friday. The social-media giant recently launched a new service called Gifts. As the name suggests, it enables users to buy, give and ship real gifts to friends directly through Facebook. Gifts can be given from the birthday reminders news feed, or from a person’s timeline.
Shares of Apple (NASDAQ:AAPL) closed 2 percent lower on the final trading day of the third quarter. Chief executive officer Time Cook issued an apology for the quality of its new maps app, saying the company “fell short” on its commitment to deliver the best possible experience to its consumers. In a letter posted on the company’s website, Cook said Apple was sorry for the “frustration” the new program had caused customers and added that they were working hard on improving the software. He also suggested alternatives that consumers could use, such as Microsoft’s (NASDAQ:MSFT) Bing.
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Research in Motion (NASDAQ:RIMM) shares jumped 5 percent after reporting a smaller-than-expected quarterly loss. The company posted a loss of 27 cents per share, compared to estimates for a loss of 46 cents per share. RIM also reported revenue of $2.87 billion, beating estimates of $2.5 billion.
Groupon (NASDAQ:GRPN) shares edged lower again on Friday. An internal memo obtained by Reuters shows Groupon to be reshuffling its senior management positions in an effort to stabilize its floundering European business. The changes at the world’s largest online daily deals provider will include the departure of Groupon’s Chief of International Business, Veit Dengler. He will be the latest executive to leave or decide to leave the company in recent months, following the departure of head of national sales Lee Brown in August.
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